Mobile money tax finally reduced from 1% to 0.5% on withdraws

Mobile money tax was called in on July 1st as Uganda’s tax savior with OTT tax matching the right coordinates for maximum targets every month. Since then, the drama around mobile money tax has unfolded from 1% to 0.5% alterations ending in verbal exchanges. However, the long leaned battle is no more as the slain tax has finally been slashed to 0.5% as confirmed by Uganda’s State minister for finance

Effective Sartuday 17th November 2018, Mobile money tax will be charged as a 0.5% round off, as per the statements from top telecom operators. However, what does this mean to an ordinary customer who may have lost alot in the 1% dilemma? Will lead telcos step up with refunds as the story was in August this year?

In a publicized notice by MTN Uganda, the 0.5% tax has already taken effect to all customers subscribing to the Bosco hyped service. In addition, Airtel money also altered its mobile money tax frame as Africell money also joined the overall wagon for a better slot in the mobile money trends.